Logistics Insurance Market 2023-2030: Insights & Opportunities
Infinity Business Insights Reports has produced an important report on the “Logistics Insurance Market”. The study includes a complete supply chain analysis of the market for the forecast period of 2023-2030. Understanding the current and future state of the global market primarily requires research and development efforts. In addition, the report promises to include all relevant market assessments and 360-degree analysis of numerous ongoing trends prevailing in the market environment. Some of the most complex marketing strategies are effectively communicated through graphical presentations with detailed images such as boxes, charts, and tables.
The global logistics insurance market is expected to reach USD 70.46 billion, growing at a CAGR of 2.8% from 2023 to 2030.
Logistics insurance is insurance that protects businesses against financial losses that may occur as a result of damage or loss of products during transit. The logistics insurance market is important in managing the risks and uncertainties associated with transportation and mobility in global supply chains. Logistics, the backbone of international trade, is a complex network of interrelated operations that includes transportation of goods, warehousing, distribution, and related services. The main purpose of logistics insurance is to protect the organization against losses caused by unexpected events such as accidents, theft, damages, natural disasters and delays in the transportation of goods. By offering a variety of insurance products tailored to the specific needs of the logistics sector, this market provides a safety net for businesses and provides peace of mind and financial security in a dangerous environment.
List of top key players in logistics insurance market:
American International, Allianz, DB Schenker, Dawson, G4S International Logistics, Integrity Shipping Insurance, Liberty Mutual Insurance, People’s Insurance Agency, UPS Capital and Wells Fargo
List of Key Players in the Logistics Insurance Market:
Prominent participants in the Logistics Insurance Market include American International, Allianz, DB Schenker, Dawson, G4S International Logistics, Integrity Transportation Insurance, Liberty Mutual Insurance, Peoples Insurance Agency, UPS Capital, and Wells Fargo.
Market Segmentation:
The Global Logistics Insurance Market is segmented into the following categories:
By Type:
1. Transportation
2. Marine
3. Aviation
By Application:
1. Manufacturing
2. Services
3. Commerce
Challenges and Risks:
Effectively assessing and pricing risks within the logistics insurance market poses challenges. The wide range of transported items, from perishables to high-value electronics, necessitates a comprehensive underwriting approach. The prevalence of multi-modal transportation, involving air, sea, road, and rail, complicates risk evaluation due to unique vulnerabilities associated with each mode. Operational concerns like cargo theft, handling damage, and delays also present significant risks. Timely claims processing can be intricate due to multiple parties from different jurisdictions involved. The digital transformation of the logistics industry introduces new risks, including cyber attacks targeting supply chain data and operations, which can lead to disruptions and losses.
Key Highlights of the Logistics Insurance Market 2023-2030:
• Comprehensive national and regional level assessments.
• Recommendations and guidance for newcomers.
• Examination of industry drivers, constraints, opportunities, risks, challenges, asset management, and innovative ideas.
• Data presented in a user-friendly written and visual format for easy understanding and comparison.
• Analysis of dynamic market changes such as expansions, partnerships, market penetration, and mergers.
What Adds Value to this Information?
This research offers an in-depth and comprehensive overview of the global Logistics Insurance Market, covering utilization and geographical sectors.
It examines both the rewards and constraints that influence industry growth.
It aids in formulating business plans and strategies for a growing market.
It explores emerging markets and devises suitable strategies.
The Global Logistics Insurance Market is categorized by region as follows:
– North America (including USA, Canada, and Mexico)
– Europe (including UK, Germany, France, and the rest of Europe)
– Asia Pacific (including China, Japan, India, and the rest of the Asia Pacific region)
– South America (including Brazil, Argentina, and the rest of South America)
– Middle East and Africa (including GCC and the rest of the Middle East and Africa)
The Logistics Insurance Market report delves into specific market areas, further dividing them into sub-regions and countries/regions. This chapter not only provides insights into market share within each country and sub-region but also outlines profit opportunities. Additionally, it presents data on the market share and growth rate for each region, country, and sub-region throughout the projected period.
The years considered for this study include:
– Historical Year: 2017-2021
– Base Year: 2022
– Estimated Year: 2023
– Forecast Year: 2023 to 2030
Impact of COVID-19 on the Logistics Insurance Market:
COVID-19 has impacted the global economy in three significant ways: direct effects on supply and demand, indirect disruptions in supply chains and markets, and financial repercussions affecting businesses and financial markets. According to our global researchers monitoring the situation, the market is expected to present profitable opportunities for manufacturers in the wake of the COVID-19 crisis. This report aims to illustrate how COVID-19 and the current economic conditions are influencing the entire sector.
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